Alistair’s living in Wonderland: Darling refuses to cut spending, hits rich with 50p tax rate and pins his hopes on recovery fantasies

The Chancellor drove a stake through the heart of New Labour yesterday by stinging top earners with a new 50p tax rate. Experts said the move – resisted for a decade by Tony Blair – was largely symbolic.

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Alistair’s living in Wonderland: Darling refuses to cut spending, hits rich with 50p tax rate and pins his hopes on recovery fantasies